Sterling skidded against the dollar and the euro on Friday, after British Prime Minister Theresa May failed to give any concrete details for how Britain might retain preferential access to Europe’s single market.
“Traders looked for hints around future access to the single market, and were disappointed not to find them in the prime minister’s speech.”
Sterling had risen against the dollar on Thursday after the BBC reported May would say Britain is willing to pay 20 billion euros (£17.70 billion) to the EU during a post-Brexit transition period, conditional on access to the bloc’s single market.
But May made no mention of any concrete payment figure in her speech.